Under a DACA amnesty, American taxpayers would be left with a $26 billion bill. About one in five DACA illegal aliens, after an amnesty, would end up on food stamps, while at least one in seven would go on Medicaid. Since DACA’s inception under Obama, more than 2,100 illegal aliens have been kicked off the program after it was revealed that they were either criminals or gang members. JOHN BINDER

Elaine Chao, Donald Trump’s nominee to head the Department of Transportation, could collect up to $5 million in Wells Fargo preferred stock after assuming her new role in the Trump administration.

According to financial disclosure forms, Chao will receive a “cash payout for my deferred stock compensation” upon her confirmation as Secretary of Transportation. The annual payouts will begin in July 2017 and would continue through 2021.

“This is a golden parachute for government services that the large banks are now increasingly famous for offering. It is not illegal yet, but it does provide the former employee with substantial financial rewards from Wells Fargo, potentially creating a sense of indebtedness from the government official toward the bank,” ethics expert Craig Holman told The Intercept after reviewing Chao’s disclosure forms and Well Fargo’s executive compensation agreement.

“These golden parachutes for taking government positions are either a massively corrupting incentive structure — effectively a backdoor bribe to incoming government officials — or an abject waste of shareholder resources,” Kurt Walters, campaign director for Demand Progress, told the outlet.

Chao, the wife of Senate majority leader Mitch McConnell, served on Wells Fargo’s board between 2011 and 2015 and made an estimated $1.2 million for her services to the San Francisco, California-based bank. Coincidentally, 2011 was the same year the Obama administration-conceived Consumer Financial Protection Bureau says Wells Fargo began forcing its employees to “secretly open unauthorized accounts to hit sales targets and receive bonuses.”

Nevertheless, Chao says she’s committed to avoiding even the appearance of a conflict of interest should she become Transoprtion Secretary — citing her intent to submit a waiver or seek exemption if she engages in any matter that directly affects Wells Fargo.

To be sure, government job-triggered golden parachutes are nothing new. But they are precisely the kind of self-serving shenanigans Trump promised to stomp out.

Indeed, many of Obama’s top appointees came from financial firms that allocate six and seven-figure payments to senior executives who accepted government jobs.

Secretary of the Treasury Jacob Lew left Citigroup with $500,000 stock options guarantees. Obama’s Counselor to the Secretary of the US Treasury Antonio Weiss was set to receive $20 million in preferential stock and deferential payments from his previous employer, Lazard, upon entering government.

The news of Chao’s corporate payday comes on the heels of reports that Trump nominee for Secretary of State Rex Tillerson will receive a retirement payout worth at least $180 million, should he be confirmed.

Wikileaks exposes Obama’s bankster-infested

administration!

BARACK OBAMA …… the banksters’ RENT BOY!

“Citigroup’s recommendations came just three days after then-President George W. Bush signed into law the Troubled Asset Relief Program, which allocated $700 billion in taxpayer money to rescue the largest Wall Street banks. The single biggest beneficiary was Citigroup, which was given $45 billion in cash in the form of a government stock purchase, plus a $306 billion government guarantee to back up its worthless mortgage-related assets.”

“As president, Obama not only funneled trillions of dollars to the banks, he saw to it that not a single leading Wall Street executive faced prosecution for the orgy of speculation and swindling that led to the financial collapse and Great Recession, and he personally intervened to block legislation capping executive pay at bailed-out firms.”

“So when Clinton was hobnobbing with Goldman Sachs CEO Blankfein in 2013, while investigations of wrongdoing by Goldman and the other Wall Street banks were still ongoing, she was consorting with a man who belonged in prison.”

NO PRESIDENT IN HISTORY SUCKED IN MORE BRIBES FROM BANKSTERS NOR INFESTED HIS ADMIN WITH BANKSTER CRONIES MORE THAN OBAMA!

And while the Obama administration worked systematically to bail out the banks and make the financial oligarchy richer than ever, shielding the architects of the Great Recession from criminal prosecution, it did impose fines for some of the banks’ grossest swindles, including the sale of worthless subprime mortgage-backed securities, the rigging of key global interest rates such as the London Interbank Offered Rate (Libor), drug money laundering, illegal home foreclosures and other illicit activities.

HSBC laundered hundreds of millions and perhaps billions of dollars for drug cartels responsible for the deaths of tens of thousands of people over the past two decades. The bank transferred at least $881 million of known drug trafficking proceeds, including money from the Sinaloa Cartel in Mexico, which is known for dismembering its victims and publicly displaying their body parts.

DID BARACK OBAMA SERVE HIS CRONY BANKSTERS PAYMASTERS WELL?

"The US stock market is now valued at $26 trillion, the highest in history."

"Overall, share prices and profits of the big Wall Street banks are soaring, fueled by expectations of sharply higher profits under a new administration pledged to dismantle the 2010 Dodd-Frank bank regulatory overhaul and remove virtually all regulations restricting speculative activity and protecting investors and the general public from Wall Street fraud."US banks report massive fourth quarter profits

By Gabriel Black16 January 2017

Profits for the two largest US banks by assets surged in the fourth quarter, reflecting a rise in trading activity following the election victory of Donald Trump.

JPMorgan Chase profits increased 24 percent to $6.7 billion, while the bank’s revenue rose two percent to $24.3 billion, according to the quarterly earnings report released by the bank on Friday. The bank reported its best-ever fourth quarter trading business. It net income jumped 96 percent from a year earlier.

Bank of America’s fourth quarter profit shot up by 42 percent to $4.7 billion. The second largest US bank’s revenue climbed 2.1 percent to $20 billion, the result of a gain in interest income and loan growth.

Earnings for the country’s fourth largest bank by assets, Wells Fargo, fell 5.4 percent to $5.3 billion and revenue remained flat in the wake of a scandal over the bank’s practice of opening unauthorized customer accounts in order to meet aggressive sales targets.

Combined 2016 profits for Bank of America, JPMorgan Chase and Wells Fargo totaled $64.6 billion, some two percent higher than in 2015.

Overall, share prices and profits of the big Wall Street banks are soaring, fueled by expectations of sharply higher profits under a new administration pledged to dismantle the 2010 Dodd-Frank bank regulatory overhaul and remove virtually all regulations restricting speculative activity and protecting investors and the general public from Wall Street fraud.

The incoming Trump administration is also promising to sharply cut corporate taxes and personal income taxes for the wealthy. Its key economic posts are filled with Wall Street insiders, including Goldman Sachs alums named to at least five top positions. These include Steven Mnuchin as treasury secretary, Gary Cohn as director of the National Economic Council, and longtime Goldman lawyer Jay Clayton to head the Securities and Exchange Commission.

US financial stocks have been on a tear since the November 8 election, with total gains for the 63 largest groups hitting $459 billion. The financial sector has headed up a general surge in stock prices, with the Dow Jones Industrial Average increasing 8.9 percent since Election Day and nearing the 20,000 mark. The US stock market is now valued at $26 trillion, the highest in history.

The Dodd-Frank law is a largely token measure that has done virtually nothing to rein in the type of speculative and fraudulent activity that led to the 2008 Wall Street crash. Nevertheless, the big US banks have denounced it and lobbied against provisions that require them to maintain a bigger capital reserve and others that minimally restrict their ability to gamble with depositors’ money.

And while the Obama administration worked systematically to bail out the banks and make the financial oligarchy richer than ever, shielding the architects of the Great Recession from criminal prosecution, it did impose fines for some of the banks’ grossest swindles, including the sale of worthless subprime mortgage-backed securities, the rigging of key global interest rates such as the London Interbank Offered Rate (Libor), drug money laundering, illegal home foreclosures and other illicit activities.

Now the banks are confident they will not even face such token reprimands for their reckless and often criminal pursuit of super-profits.

Trump is also expected to offer massive tax breaks to companies that invest in government-sponsored infrastructure projects. A spurt in growth and an anticipated rise in interest rates promise to increase the opportunities for the banks to realize higher returns.

This Trump boom will make the inevitable bursting of the stock bubble that much more violent. The fundamentals of the European, East Asian and American economies remain weak, with very low rates of reinvestment.

The massive profits reported by the American banks contrast sharply with the situation in Europe. The total profits of the three largest US banks for 2016, $65 billion, exceeds the combined market value of Deutsche Bank and Credit Suisse, two of the largest European banks.

This reflects a sharp decline in the position of European banks relative to their US rivals in the aftermath of the 2008 crisis. Share prices for major European banks such as the Royal Bank of Scotland, Deutsche Bank, Barclays and UniCredit are below their pre-2008 levels.

Elaine Chao, Donald Trump’s nominee to head the Department of Transportation, could collect up to $5 million in Wells Fargo preferred stock after assuming her new role in the Trump administration.

According to financial disclosure forms, Chao will receive a “cash payout for my deferred stock compensation” upon her confirmation as Secretary of Transportation. The annual payouts will begin in July 2017 and would continue through 2021.

“This is a golden parachute for government services that the large banks are now increasingly famous for offering. It is not illegal yet, but it does provide the former employee with substantial financial rewards from Wells Fargo, potentially creating a sense of indebtedness from the government official toward the bank,” ethics expert Craig Holman told The Intercept after reviewing Chao’s disclosure forms and Well Fargo’s executive compensation agreement.

“These golden parachutes for taking government positions are either a massively corrupting incentive structure — effectively a backdoor bribe to incoming government officials — or an abject waste of shareholder resources,” Kurt Walters, campaign director for Demand Progress, told the outlet.

Chao, the wife of Senate majority leader Mitch McConnell, served on Wells Fargo’s board between 2011 and 2015 and made an estimated $1.2 million for her services to the San Francisco, California-based bank. Coincidentally, 2011 was the same year the Obama administration-conceived Consumer Financial Protection Bureau says Wells Fargo began forcing its employees to “secretly open unauthorized accounts to hit sales targets and receive bonuses.”

Nevertheless, Chao says she’s committed to avoiding even the appearance of a conflict of interest should she become Transoprtion Secretary — citing her intent to submit a waiver or seek exemption if she engages in any matter that directly affects Wells Fargo.

To be sure, government job-triggered golden parachutes are nothing new. But they are precisely the kind of self-serving shenanigans Trump promised to stomp out.

Indeed, many of Obama’s top appointees came from financial firms that allocate six and seven-figure payments to senior executives who accepted government jobs.

Secretary of the Treasury Jacob Lew left Citigroup with $500,000 stock options guarantees. Obama’s Counselor to the Secretary of the US Treasury Antonio Weiss was set to receive $20 million in preferential stock and deferential payments from his previous employer, Lazard, upon entering government.

The news of Chao’s corporate payday comes on the heels of reports that Trump nominee for Secretary of State Rex Tillerson will receive a retirement payout worth at least $180 million, should he be confirmed.

Wikileaks exposes Obama’s bankster-infested

administration!

BARACK OBAMA …… the banksters’ RENT BOY!

“Citigroup’s recommendations came just three days after then-President George W. Bush signed into law the Troubled Asset Relief Program, which allocated $700 billion in taxpayer money to rescue the largest Wall Street banks. The single biggest beneficiary was Citigroup, which was given $45 billion in cash in the form of a government stock purchase, plus a $306 billion government guarantee to back up its worthless mortgage-related assets.”

“As president, Obama not only funneled trillions of dollars to the banks, he saw to it that not a single leading Wall Street executive faced prosecution for the orgy of speculation and swindling that led to the financial collapse and Great Recession, and he personally intervened to block legislation capping executive pay at bailed-out firms.”

“So when Clinton was hobnobbing with Goldman Sachs CEO Blankfein in 2013, while investigations of wrongdoing by Goldman and the other Wall Street banks were still ongoing, she was consorting with a man who belonged in prison.”

NO PRESIDENT IN HISTORY SUCKED IN MORE BRIBES FROM BANKSTERS NOR INFESTED HIS ADMIN WITH BANKSTER CRONIES MORE THAN OBAMA!

And while the Obama administration worked systematically to bail out the banks and make the financial oligarchy richer than ever, shielding the architects of the Great Recession from criminal prosecution, it did impose fines for some of the banks’ grossest swindles, including the sale of worthless subprime mortgage-backed securities, the rigging of key global interest rates such as the London Interbank Offered Rate (Libor), drug money laundering, illegal home foreclosures and other illicit activities.

HSBC laundered hundreds of millions and perhaps billions of dollars for drug cartels responsible for the deaths of tens of thousands of people over the past two decades. The bank transferred at least $881 million of known drug trafficking proceeds, including money from the Sinaloa Cartel in Mexico, which is known for dismembering its victims and publicly displaying their body parts.

DID BARACK OBAMA SERVE HIS CRONY BANKSTERS PAYMASTERS WELL?

"The US stock market is now valued at $26 trillion, the highest in history."

"Overall, share prices and profits of the big Wall Street banks are soaring, fueled by expectations of sharply higher profits under a new administration pledged to dismantle the 2010 Dodd-Frank bank regulatory overhaul and remove virtually all regulations restricting speculative activity and protecting investors and the general public from Wall Street fraud."US banks report massive fourth quarter profits

By Gabriel Black16 January 2017

Profits for the two largest US banks by assets surged in the fourth quarter, reflecting a rise in trading activity following the election victory of Donald Trump.

JPMorgan Chase profits increased 24 percent to $6.7 billion, while the bank’s revenue rose two percent to $24.3 billion, according to the quarterly earnings report released by the bank on Friday. The bank reported its best-ever fourth quarter trading business. It net income jumped 96 percent from a year earlier.

Bank of America’s fourth quarter profit shot up by 42 percent to $4.7 billion. The second largest US bank’s revenue climbed 2.1 percent to $20 billion, the result of a gain in interest income and loan growth.

Earnings for the country’s fourth largest bank by assets, Wells Fargo, fell 5.4 percent to $5.3 billion and revenue remained flat in the wake of a scandal over the bank’s practice of opening unauthorized customer accounts in order to meet aggressive sales targets.

Combined 2016 profits for Bank of America, JPMorgan Chase and Wells Fargo totaled $64.6 billion, some two percent higher than in 2015.

Overall, share prices and profits of the big Wall Street banks are soaring, fueled by expectations of sharply higher profits under a new administration pledged to dismantle the 2010 Dodd-Frank bank regulatory overhaul and remove virtually all regulations restricting speculative activity and protecting investors and the general public from Wall Street fraud.

The incoming Trump administration is also promising to sharply cut corporate taxes and personal income taxes for the wealthy. Its key economic posts are filled with Wall Street insiders, including Goldman Sachs alums named to at least five top positions. These include Steven Mnuchin as treasury secretary, Gary Cohn as director of the National Economic Council, and longtime Goldman lawyer Jay Clayton to head the Securities and Exchange Commission.

US financial stocks have been on a tear since the November 8 election, with total gains for the 63 largest groups hitting $459 billion. The financial sector has headed up a general surge in stock prices, with the Dow Jones Industrial Average increasing 8.9 percent since Election Day and nearing the 20,000 mark. The US stock market is now valued at $26 trillion, the highest in history.

The Dodd-Frank law is a largely token measure that has done virtually nothing to rein in the type of speculative and fraudulent activity that led to the 2008 Wall Street crash. Nevertheless, the big US banks have denounced it and lobbied against provisions that require them to maintain a bigger capital reserve and others that minimally restrict their ability to gamble with depositors’ money.

And while the Obama administration worked systematically to bail out the banks and make the financial oligarchy richer than ever, shielding the architects of the Great Recession from criminal prosecution, it did impose fines for some of the banks’ grossest swindles, including the sale of worthless subprime mortgage-backed securities, the rigging of key global interest rates such as the London Interbank Offered Rate (Libor), drug money laundering, illegal home foreclosures and other illicit activities.

Now the banks are confident they will not even face such token reprimands for their reckless and often criminal pursuit of super-profits.

Trump is also expected to offer massive tax breaks to companies that invest in government-sponsored infrastructure projects. A spurt in growth and an anticipated rise in interest rates promise to increase the opportunities for the banks to realize higher returns.

This Trump boom will make the inevitable bursting of the stock bubble that much more violent. The fundamentals of the European, East Asian and American economies remain weak, with very low rates of reinvestment.

The massive profits reported by the American banks contrast sharply with the situation in Europe. The total profits of the three largest US banks for 2016, $65 billion, exceeds the combined market value of Deutsche Bank and Credit Suisse, two of the largest European banks.

This reflects a sharp decline in the position of European banks relative to their US rivals in the aftermath of the 2008 crisis. Share prices for major European banks such as the Royal Bank of Scotland, Deutsche Bank, Barclays and UniCredit are below their pre-2008 levels.

OBAMA LEFT OFFICE HAVING TRANSFERRED THE GREATEST AMOUNT OF AMERICA, A COUNTRY HE HATED, TO THE SUPER RICH.OBAMA'S CRONY BANKSTER THAT CAUSED ECONOMIC MELTDOWN IN 2008 MADE STAGGERING PROFITS THE LAST QUARTER OF OBAMA'S TERM.

The Obamas’ post-presidency money
machine

How greedy will the
Obamas be, once they are free to start making deals with speakers’ bureaus,
book publishers, television broadcasters, movie producers, boards of directors,
and other providers of part time and episodic employment of the most lucrative
sort?

Most unfortunately for
the plucky couple, the last Democrats to leave the White House gave a bad name
to the shameless pursuit of wealth from megarich interests. So a man in his
early fifties vitally concerned over his historical legacy might want to think
twice about cashing in. But the Obamas have demonstrated a love of luxury,
perhaps the product of childhood, adolescent and young adult frustrations over
status deprivation. Many leftists I have known have been deeply envious of the
wealth accumulated by entrepreneurs, in particular, which they see as greedy,
mostly uneducated, and certainly unworthy of lording it over themselves, and
enjoying financial security while they struggled.

Ed Lasky compiled a list
of evidence of the Obamas’ love of luxury that is quite entertaining:

How about thesephotosof the Halloween Party for his two
daughters and their friends form their private elitist schools? TheAlice in Wonderland themeparty during the recession -- they
tried to hide these photos and this party from the public.

The Martha’s Vineyard and Hawaiian estate trips. Not unusual
for Democratic Presidents (Martha’s Vineyard is safe liberal space for them).
But Bush and Reagan went back to their ranches

At least Obama, thankfully, almost never came back to Chicago
in 8 years.

So I think the Obamas
will live large and need to comport themselves as the megarich do. They already
will be maintaining 3 houses, in DC, the Palm Springs area, and their mansion
in Chicago (though that might be sold for a pretty penny eventually.

Probably the first big
money will be publishers’ advances for books from each of them. Then I could
see one or both signing TV contracts or doing specials for serious money. While
he was president, Obama made a media event of his NCAA brackets in arch. How much
would a two-hour special be worth to ESPN with ex-president Obama revealing his
brackets, and discussing the prospects with sports mavens?

Speaking fees will be a
regular source of income, too.

Neither one of them will
lack for anything, ever again in their lives. I suspect they will be living
large and justifying it as an inspiring story for African Americans.

Lauri Regan offers this
insight:

I think they’ll be very greedy but he cares more about
community organizing in order to maintain his legacy and destroy trump’s while
working to bring Dems back to power. He also has to fundraise for his
library.

I think the Obamas will
manage to make their wealth accumulation a matter of virtue-signaling, doing it
as representatives of the victim classes of America and combining their
personal wealth accumulation with fundraising for their pet charities.

It will work for their
target audience, lefties and minorities.

OBAMA: AMERICA'S WRECKING BALL

Obama accused of wrecking Trump's transition:A leading House Republican charges that President
Obama is implementing a scorched earth exit strategy aimed at undermining
President-elect Trump first months while cementing his own legacy through a
frenzy of midnight regulations. California Rep. Darrell Issa also hit Obama's
post-campaign effort to blame Russia for the outcome of the election, which has
sparked some Democrats to suggest that the results are illegitimate. President
Obama is not going softly into the night. He very clearly wants to leave what
some call scorched earth, or at least troubled waters, said Issa on this
weekend's Full Measure with Sharyl Attkisson. The show, titled Exit Strategy,
focuses on Obama's last minute moves, including the wave of regulations being
flushed through the a government. Issa also focused on Obama's retaliation
against Russia for hacking the Democratic National Committee and even his
opening of gates of the terrorist prison camp at Cuba's Guantanamo Bay base.